Is the economy destroying love?
Many young people are delaying 'key life decisions' like getting married and having children.
This post comes from Kimberly Palmer at partner site U.S. News & World Report.
For recent college graduates, the post-recession economy has meant a challenging job market, lower earnings, and a greater chance of moving back home with parents. As they progress through their 20s, it also means they're more likely to push off traditional milestones such as getting married and starting a family.
A new survey from Generation Opportunity, a nonprofit dedicated to engaging young adults on economic issues, found that eight in 10 young women between the ages of 18 and 29 living in Florida say they've delayed "key life decisions" because of the weak economy. Three in 10 specifically mentioned starting a family as something they will either delay or possibly skip altogether, and two in 10 said the same about marriage.
Respondents also listed a variety of other life events they're skipping or putting off: vacations, attending weddings or family reunions, buying a home and saving for retirement. In a statement, Generation Opportunity executive vice president Amber Roseboom noted that young women's "careers and dreams have been interrupted."
The survey echoes similar national findings of both genders. Earlier this year, the Pew Research Center found that almost one in three young adults between the ages of 18 and 34 say they have delayed marriage or parenthood because of the economy. About half said they have taken jobs they don't want to pay bills.
When it comes to the biggest life decisions -- when and whether to get married and have children -- money undoubtedly plays a big role. But it's possible to find ways to make both events more affordable. Marriage can even help couples save money, especially if they combine expenses they previously paid separately, such as food, housing and transportation. Couples with very different salaries, or where one spouse earns a lot and the other earns little or nothing, can also find themselves paying a lower tax rate post-nuptials. (The opposite is often true for couples who earn similar amounts.)
Babies are a little trickier. They are expensive, and getting more expensive all the time. The U.S. Department of Agriculture recently reported that babies born in 2011 will cost their parents $234,900 before age 18, which was a 3.5% increase over the previous year. That's because child care, education, transportation and food prices are all rising.
But as with marriage, there are ways to generate savings: Children can share bedrooms, parents can buy or borrow secondhand clothes and toys, and buying and cooking food in bulk can keep grocery bills down. Parents might even find that some pre-baby costs, such as restaurant meals and vacations, naturally go down with their new child-centric lifestyle.
Still, there's no avoiding the fact that marriage and parenthood often introduce new expenses into one's life. Based on the recent surveys, young adults appear to be keenly aware of that fact. Delaying either event can be the smart move for 20-somethings still struggling to find their own financial footing.
But for those intent on moving forward, either down the aisle or into parenthood, there's usually a way to make it happen without breaking the bank.
Have you delayed marriage or parenthood because of the economy?
More on U.S. News & World Report and MSN Money:
- 50 smart money moves
- How couples can get spending under control
- Basic money lessons you (probably) missed in high school
- Smart Spending on the go: Get our app for Android or iPhone
- Financial planning for child care
- Most expensive states for raising kids
Only a few generations ago everyone was home before marriage. The recent rapid economic expansion is what enabled young people to move out. Moving out set a new standard for a good mate. It also put a strain on housing. More units were built to accommodate the new market. and the upward housing spiral began.
While most were looking like great matrimonial picks, the underlying truth was that they were swimming in debt and immaturity. Mortgage, rent, auto, student loan, credit card payments and life's necessities made that handsome salary look like chump change..
Today people have a chance to see how prospective mates handle the real world. Things like real love, appreciation, kindness, temperament and respect are but a few.
We may have returned to a place that is better. A time where possible mates are not analyzed like a prospectus. It was a mental checklist of how will this person might improve my portfolio. Health, height, weight, cup size, eye color, friends, car make, and address were the criteria for wedding day, So many young people get a divorce simply to cut their losses. They made a bad investment and needed to dump it and get back in the market.
I've decided to wait untill the cows come home befor having more kids, I'm 73 and having a ball
I'm reaching for the gusto.
When material things begin to mean more to you than your family then it's time to reevaluate your life. Having to sell your $400,000 home and move into an apartment or condo should not be a deal breaker in a relationship. If kids aren't willing to follow thier dreams until they can afford that brand new bmw and that McMansion then they deserve to lose out on life. All that fancy stuff doesn't make anyone truly happy. That kind of ownership only causes stress and worry that one day you will lose it all. People need to learn to live more simply, without the fancy attatchments that are there only to impress.
Love? It is destroying families. We used to have single income families before women decided they had to work and that is the problem now. I do not understand the logic of demanding 50/50 at home from your "partner", but will instead go to work, dress up every day, and kiss someone's a$$ that only pays you 1/100 or 1/1000 of what they make. How intelligent is that?
Instead of sharing/splitting up the workload we are forcing each other to do more and more work by competing with each other for the same pay. Employers love it because they are getting two workers for the price of one. If there was a shortage of workers then simple supply and demand says that the remaining workers would get paid more.
Most women will not give up their paycheck to support a man to stay at home and take care of things. Most women expect a man to get and hold a job. Most men on the other hand will fork over the majority of their paycheck to their wives, who will spend that money too. Granted most goes towards the family/bills, but women still have control in most cases even if they are not the breadwinners.
Have one person work one week while the other person takes care of the house and then trade off the next week if you cannot stand to stay at home or to have your partner stay at home. We should be splitting the workload, not duplicating it. WTF is the point/advantage of having a partner if I have to do even more work? There should be some benefit.
Women are also the reason for insurance companies and the "need" for them. They need that sense of security, that everything will be alright, and that their children will be protected. They buy into the scam of insurance hook line and sinker. They will WASTE and pay a ridiculous amount of money in middle man fees that do not provide any real service or benefit. They demand to waste money on middle man fees for no reason. The vast majority of people would be better of without insurance since most will pay in more then they will ever receive in benefits. You would be better served putting that money in a bank or investing it according to the odds/math.
Sorry for the "women" rant, but when I see a headline about how the economy is killing "love"... Want to talk about how you are creating the very problems you are complainng about? What to talk about what laws you support, who you voted for, and why? It is so easy to scare, fear, place doubt, worry, etc. into a women's head causing them to do/buy something it is not even funny. Salesmen/politicians see you coming from miles away.
Responsible young folks will always consider money when making life choices,but having someone you love to come home to at night makes everything seem better.
LOL and yes raising kids is surprisingly expensive
I guess this is news
I have a great idea. I was born here, raised here, and shed blood for the place, but unlike some, I DON'T have to stay here. You can play commie games (ask a Russian how that worked out), create labor camps for anyone that's ever made over 50 grand a year, hell, you can even dress up every non-White under 25 in a uniform and have a cultural revolution (you can create a rap anthem). But don't write and ask me for any taxes to buy a diving board for your new cesspool. Nope. My wife and I are selling everything we've worked so hard to build for over 3 decades and moving to Eire to enjoy it. So send me a postcard, one with a photo of people who believe in God being marched off to re-education camps. Have fun! Address card to: Rich laughing man holding ale, Outskirts, Dublin, Eire.
How can we be expected to get married and start a family when we're struggling to pay off thousands of dollars of student loan debt for a degree that doesn't guarantee us anything these days?
"But woe unto you rich; you have your reward. Howl and weep for the miseries that are going to come upon you in hell."
The global affluent have too much control. They're not necessarily good people-I've been around plenty of them. God remembers your lives, lies and ill-gotten gain.
Our constitution, for all intents and purposes, is gone. We're perpetually held hostage by the 'we're going to take our toys and go home if we can't get our way' mentality of wealthy Americans. Our treasury has been raided-it's just a way of life now-they're teaching it at the universities...there's no accountability. By the time the Brokaws of the world get wind of the heist-it's all gone.
This generation of people wants to control everything and everyone, and do not believe in passing on to the next generation.
We are being stteped in social and financial chaos to ease this former nation into the global agenda-without them firing a shot.
the internet's to blame for it all . And as soon as I log into my email I'm writing about it to everyone I know
The stock market dropped over 300 points the day after "president what's his name" wasn't ushered out the door, and the drop was blamed on the unrest in Europe. Yea right, yet another lie told by the in-the-tank-scumbag-U-turn-leftist media.
I might not have near the anger with the result if it was a fair fight, but it wasn't anywhere close to a fair fight. I know that politics is a dirty game but when over 90% of the outgoing information is skewed to the left & gullible people take that as the truth the result, in the end everyone loses. Just ask a Greek.
So, do your own research & you'll realize what a huge mistake you all have made. We needed a businessman in the White House but instead we have the looser retread who thinks that an economic policy is comprised of planting money trees.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
ABOUT SMART SPENDING
LATEST BLOG POSTS
Saving just a single month of expenses may take longer than you think. See how your savings rate affects how quickly you can build a solid emergency fund.
VIDEO ON MSN MONEY
BLOGS WE LIKE
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'